Ann: Shallow Gold Targets Outlined - Britannia Mine,Turon Project, page-62

Well I've been revisiting this announcement and doing some more reading on Deep Ground Penetrating Radar. I think it's fair to say that DGPR is currently a relatively unproven technology, at least in Australia or for mining targets. That's not a criticism at all, quite the opposite because with that in mind this announcement has become extra exciting to me.

Looking at Snip 2 below and then coming back to Snip 1, I can see the compelling logic as to why the miners sunk exploration shafts and BHP put their 3 drill holes on the trends they chose. The broader view, including the prospects further to the north, shows that historic deposits followed something of a trend line but for some reason these workings stopped in between Britannia and Box Ridge where it looks like the old guys believed there had to be more and couldn't find it. And BHP similar but 30 years ago tech wasn't able to do what it can today in determining trend. That is the old timers (who took at least 10k oz out of this area, probably more) and BHP both went where experience told them the targets should be.

As I'm understanding the report, the DGPR survey believes that it's identified previously unknown faults that have shifted a portion of the Britannia mineralisation to the west. Including the deep higher grade target. (Snip 3 below is the model from line B5 which is just after the start of both targets appearing as the DGPR infers).

Now I know I'm looking with a lot of confirmation bias (plus I really like new tech and innovation) but this has me excited at potential for several reasons:
1. Britannia gives us a really straight forward proof of concept test for DGPR. I'm guessing 200-300m depth drills will be all that's needed to confirm it's accuracy in detecting mineralisation. And maybe not many holes at that. On that basis it makes sense to me that they might choose to start with Britannia program.
2. If holes here come up trumps for good mineralisation then we have a hot lead on potentially easily recoverable gold as the gold bull takes off. It doesn't have to be a big resource to make a difference here eg if they crack another 10k oz resource base as was taken out historically, there's $14 million net revenue if they can manage an AISC of AUD$1000 at AUD$2500 gold price over say 2/3 years. Raw basic numbers but apply that to funding requirements to explore our other targets and there may be no need for further cap raising in that time
3. if DGPR is proved as a good tool here, then hooley dooley, what confidence will that give our geos in targeting at Belgravia??? Indeed, what are we sitting on already from the work we've already seen at Sugarloaf @The Avenger??

Fingers/toe/etc crossed! (Also I'm guessing we should have the balance of Belgravia DGPR within the next week)


Snip 1

Snip 2



Snip 3: example of DGPR data model from line B5